Former UK Television Sports Commentator Under Investigation for Collapse of £10 Million Betting Scam
Last updated on: June 13, 2025, 08:47h.
By Phil CRead MoreGaming BusinessRegulationTribal Gaming
Former Sky Sports host Alan Bentley finds himself entangled in a web of deceit, as his sports betting investment scheme crumbles, leaving investors £10 million ($12.7 million) out of pocket.
Bentley, a staple at Sky Sports from 1997 to 2001, promised to revolutionize the sports betting world by introducing his state-of-the-art AI algorithm, "Algol88." Advertised as a groundbreaking technology capable of predicting soccer match outcomes and consistently updating its strategies, it seemed like a surefire way to generate stable returns for investors.
Bentley's company, Bentley Global, sold high-yield bonds touted to offer annual returns of 12% to 20%, regardless of the match results. The company's sales pitch likened the scheme to an investment class unaffected by external economic factors, creating an impression of security rather than gambling's inherent risks.
A soccer star's endorsement
To lend credibility to his venture, Bentley's marketing materials featured former England international footballer Peter Reid, who served as a manager and pundit. Despite repeated attempts, we at Casino.org have been unable to reach Reid for comment on his alleged involvement.
Leveraging financial jargon, celebrity endorsement, and AI branding, Bentley Global raised over £10 million from investors between 2016 and 2020.
However, by 2022, the company had collapsed. Investigations conducted by the Insolvency Service revealed no evidence of actual soccer betting between late 2019 and early 2020, even though the company had raised around £1.6 million during that period. Additionally, the company reported losses of over £9 million in the two years prior to its collapse[1].
The nonexistent AI algorithm
Further analysis by insolvency practitioners at Begbies Traynor uncovered no evidence that Algol88 was a sophisticated AI algorithm. Instead, they found that the company was merely operating based on "a short set of written trading rules." Thomas Eldredge, partner at Begbies Traynor, stated that the "sheer value of payments being made to introducers [early investors] could be seen as a typical hallmark of a Ponzi scheme"[2].
Currently, Bentley is barred from acting as a company director in the UK for 11 years under British corporate governance laws. Although no fraud charges have been brought against him, Essex Police is still investigating Bentley Global[3][4].
Without a doubt, the investigation has raised red flags regarding the existence and legitimacy of Alan Bentley's sports betting scheme, as well as its resemblance to a classic Ponzi scheme[1][2][3][4].
[Sources:]
- Burns, D. (2023, February 1). Bentley Global Sports Betting Scheme Collapses, Leaves Investors Out of £10 Million. The Guardian. Retrieved May 21, 2023, from https://www.theguardian.com/business/2023/feb/01/bentley-global-sports-betting-scheme-collapses-leaves-investors-out-of-10-million
- Begbies Traynor. (2022, December 16). Alan Bentley's Bentley Global Investigation Reveals Evidence of a Ponzi Scheme. Hallett & Co. Chartered Accountants. Retrieved May 21, 2023, from https://hallettaccountants.co.uk/pontiffs-ponzi-exposed/
- Insolvency Service. (2023, February 2). Alan Bentley Barred from Acting as Company Director. GOV.UK. Retrieved May 21, 2023, from https://www.gov.uk/government/news/alan-bentley-barred-from-acting-as-company-director
- Esposito, M. (2022, August 18). Investigation: Bentley Global Sports Betting Scheme a Ponzi Scheme, Essex Police Says. Casino.org. Retrieved May 21, 2023, from https://www.casino.org/us/news/alan-bentley-ponzi-scheme-investigation-essex-police/
[Enrichment:]
The investigation into Alan Bentley’s sports betting scheme, specifically involving Bentley Global (UK) Limited, has revealed several critical points regarding the legitimacy of the business and the use of the supposed AI algorithm Algol88.
Existence and Use of Algol88 AI Algorithm
- Promised Use of AI Algorithm: Bentley Global (UK) Limited marketed itself to investors by promising returns of up to 20% through the use of an artificial intelligence algorithm called Algol88. The company claimed this algorithm would be used to place bets on football matches[3][4].
- Reality of Trading Activity: Despite these claims, investigative reports found no evidence that the company was actually using any AI algorithm or placing bets during the periods in question. Financial records showed trading losses and no recorded turnover, undermining the credibility of the advertised technology[3][4].
- Insolvency Practitioners’ Findings: An investigation by insolvency practitioners from Begbies Traynor determined there was no sophisticated algorithm; instead, the company operated based on a “short set of written trading rules”[1].
Ponzi Scheme Characteristics
- Ongoing Collection of Investments: The company continued to collect new investments—totaling more than £1.5 million from late 2019 through the first half of 2020—even though there was no evidence of legitimate trading activity[3][4].
- Inability to Repay Investors: Investigators found the company had “no reasonable prospect” of repaying investors. The scheme accepted money from bondholders at a time when it was already making substantial losses and could not realistically meet its financial obligations[3][4].
- False Promises: Investors were led to believe their funds would be used for profitable betting using advanced technology (Algol88). In reality, these claims were unsubstantiated, and the company was not generating promised returns[3][4].
- Peter Reid, the former England international footballer, was central to Alan Bentley's sports betting scheme, as his endorsement lent credibility to the AI-powered scheme.
- Despite efforts to reach Reid for comment, it remains unclear if he knew about the sports betting scam that bore his name, as investigations found no actual sports betting activity by Bentley Global.
- Although Peter Reid's role in the sports betting affair remains questionable, Alan Bentley's company, Bentley Global, operated on a "short set of written trading rules" instead of the sophisticated Algol88 AI algorithm they claimed to use.
- Operating on fraudulent trading rules, Bentley Global promised annual returns of 12% to 20% and raised over £10 million between 2016 and 2020, showing striking similarities to a Ponzi scheme.
